Tecmo-Koei merger faces opposition from investor

Though the planned merger between Koei and Tecmo was recently finalized, one of Tecmo's largest investors, Effissimo Capital Management Pte, has expressed some concern over the benefits shareholders might expect to gain in the aftermath. "We have not had sufficient information from the company to make a judgment on the merger, such as the feasibility of their plan to raise shareholder value," Effissimo Director Takashi Kosaka said in a statement published by Bloomberg.

It's unclear whether the firm, which owns 17.6 percent of Tecmo, will act to delay the formation of the new holding company, scheduled to occur on April 1, 2009. We suspect both companies will reassure Mr. Kosaka by emailing him some provocative artwork from the inevitable hit game, Dynasty Warriors: X-Treme Feudal Beach Volleyball.